The Federal Opposition has also pledged to give slightly bigger tax cuts to those earning less than $40,000 a year.

And the way wages are set across entire sectors would be examined by a Labor government. Both major parties agree the current method called enterprise bargaining is flawed and it seems only a matter of time before it's rewritten.

Rather than going back to the old industry-wide system (also known as pattern bargaining, which remains outlawed by the Fair Work Act), Labor has flagged "multi-employer bargaining" as a possible option.

This method could see employers bargain with union representatives rather than employees to set wages and conditions, which would then be applied across the board in a specific industry.

Labor also plans to boost mandatory super contributions to 12 per cent, up from the current rate of 9.5 per cent.

While this could see some pay packets expand if super is paid on top of salary package, it could also eat into some employee's take home pay if super is included.

Coalition's plans for wages

Prime Minister Scott Morrison is hoping voters trust the Coalition's economic prescription will eventually see their pay packets expand, with tax breaks offered in the short and medium term as their way of easing hip-pocket pressure.

Coalition wages plan:

Focus on a strong economy

Further income tax cuts over the long term

Invest in infrastructure

Focus on improving productivity

Pursue new free trade deals

Retain construction watchdog

Initially there's no major difference in promised tax cuts, but the Coalition is trumpeting bigger tax cuts over the long term.

Regardless of who emerges the victor, about 10 million low and middle-income earners who get paid up to $125,000 a year will receive up to $1,080 in the form of a tax offset.

But within five years, only 6 per cent of taxpayers would pay more than 30 cents in the dollar under its plan.